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This past year we have been working with many buyers who intend to take advantage of this current malaise in the real estate market, and most of them believe that you can make a great deal of equity by taking advantage of under-valued properties. For instance, let’s say that you can buy a rental house for substantially less than its replacement cost. That being the case, you will quickly gain the difference as the demand for Hawaii real estate gradually swells. At this point, there are many properties available at prices far below replacement value, and we expect our loan appraisals to exceed the purchase price by substantial margins.
Very soon the Baby Boomer generation will begin making their retirement plans, and some of them will want to be in Hawaii. Our market area, the west side of the Big Island, is the area most likely to see the creation of wonderful new retirement communities and facilities, because we have the room, the infrastructure, the weather and the medical facilities. There are all ready financial giants here who are participating in the growth of the area, and they are serious people with wonderful vision. If we were to attract just one-percent of the Baby Boomers we would need to create 70,000 new housing units to accommodate them all.
According to these simple, major factors, we think that demand for Hawaii real estate that will appeal to retirees should stiffen quite a bit over the next few years as our national economy recovers in more efficient condition than before. It seems to make sense that those who purchase at today’s deep discounts will be handsomely rewarded."
Please, be aware that Bill's point of view is his view as a buyer's agent. This is an excerpt of Bill's article. You can soon read the full article about the '2009 Hawaii Real Estate Market' on Bill's website Big Island Byers Brokers or find his other Hawaii real estate articles in the top of our 'Blog Guest Authors'. Much mahalo Bill for your insight.
So, what do you think about buying a condo or house in Hawaii, now or later? Mahalo and aloha, Pua Hawaii Vacations
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